3322 Lawrence AveChicago, IL 60625

Property Details for 3322 Lawrence Ave

Year built

1928

Lot size

0.12 AC

Property size (Sq ft)

19,200 SF

Property type

Office buildings

APN

13-11-429-025

APU

1311429025

Description

This exceptional mixed-use property, located at 3322 W. Lawrence Ave in Chicago's Albany Park neighborhood, presents a unique redevelopment opportunity. The four-story building, plus basement, boasts a striking terra cotta facade and was originally constructed in the late 1920s. With a total of 19,500 square feet situated on a 5,125 square foot lot, the property offers significant potential for various uses. Its B1-2 zoning allows for flexible mixed-use development, catering to a range of commercial and potentially residential applications. The building's prime location directly across from the Kimball CTA Brown Line Station ensures excellent visibility and accessibility, attracting a wide range of potential tenants and customers. Its proximity to major transportation arteries, including I-94, and O'Hare International Airport (approximately 30 minutes away), further enhances its appeal. This is a chance to revitalize a historic landmark in a thriving community, offering a compelling investment opportunity for discerning developers seeking a high-impact project in a rapidly growing area of Chicago. The property's size and zoning flexibility make it ideal for a variety of innovative redevelopment plans.

• CAP approach

  CAP return

  Valuation

  6%

  $5,779,517

  6.5%

  $5,334,939

  7%

  $4,953,872

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,500,800

  Geo Method

  $2,500,800

• Alternative Use

  Use

  Valuation

  Residential

  $6,615,324

  Hospitality

  $6,059,602

  Educational

  $5,041,518

  Medical

  $5,214,903

  Retail

  $7,842,360

Location Insight

City

Chicago

County

Cook

State

Illinois

Latitude

41.9687

Longitude

-87.712

CBSA code

16980

CBSA name

CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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